Novo Nordisk A/S (NYSE:NVO) Upgraded by StockNews.com to “Strong-Buy” Rating

Novo Nordisk A/S (NYSE:NVO) was upgraded by research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Saturday.

NVO has been the topic of several other research reports. BNP Paribas upgraded shares of Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, December 2nd. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. Finally, BMO Capital Markets lowered their price target on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $150.40.

Novo Nordisk A/S Trading Down 17.8 %

Shares of NVO opened at $85.00 on Friday. The stock has a fifty day moving average price of $109.01 and a two-hundred day moving average price of $125.16. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.75 and a current ratio of 0.94. The company has a market cap of $381.44 billion, a price-to-earnings ratio of 27.51, a PEG ratio of 1.37 and a beta of 0.40. Novo Nordisk A/S has a 52-week low of $81.50 and a 52-week high of $148.15.

Hedge Funds Weigh In On Novo Nordisk A/S

Several large investors have recently bought and sold shares of the business. Envestnet Asset Management Inc. lifted its stake in shares of Novo Nordisk A/S by 1.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 4,254,180 shares of the company’s stock valued at $607,242,000 after purchasing an additional 58,935 shares during the period. Raymond James & Associates increased its holdings in Novo Nordisk A/S by 1.0% in the third quarter. Raymond James & Associates now owns 3,526,821 shares of the company’s stock valued at $419,939,000 after purchasing an additional 36,223 shares during the last quarter. Natixis Advisors LLC lifted its stake in Novo Nordisk A/S by 2.7% in the third quarter. Natixis Advisors LLC now owns 3,074,876 shares of the company’s stock valued at $366,125,000 after buying an additional 80,070 shares during the period. International Assets Investment Management LLC boosted its holdings in Novo Nordisk A/S by 10,608.4% during the third quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company’s stock worth $215,942,000 after buying an additional 1,796,635 shares during the last quarter. Finally, DSM Capital Partners LLC grew its position in shares of Novo Nordisk A/S by 257,816.0% during the 2nd quarter. DSM Capital Partners LLC now owns 1,593,921 shares of the company’s stock worth $227,516,000 after buying an additional 1,593,303 shares during the period. 11.54% of the stock is currently owned by institutional investors and hedge funds.

About Novo Nordisk A/S

Novo Nordisk A/S, together with its subsidiaries, engages in the research and development, manufacture, and distribution of pharmaceutical products in Europe, the Middle East, Africa, Mainland China, Hong Kong, Taiwan, North America, and internationally. It operates in two segments, Diabetes and Obesity Care, and Rare Disease.